Drax Group (LON:DRX) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Drax Group plc (LON:DRX)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 576.10 ($7.48) and traded as high as GBX 656 ($8.52). Drax Group shares last traded at GBX 643 ($8.35), with a volume of 342,927 shares.

Analysts Set New Price Targets

Several brokerages have recently commented on DRX. Jefferies Financial Group lifted their target price on Drax Group from GBX 600 ($7.79) to GBX 750 ($9.74) and gave the stock a “buy” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Drax Group in a report on Friday, July 5th.

Drax Group Price Performance

The company has a debt-to-equity ratio of 63.77, a current ratio of 1.26 and a quick ratio of 0.32. The stock has a market capitalization of £2.45 billion, a price-to-earnings ratio of 387.35, a price-to-earnings-growth ratio of 0.10 and a beta of 1.22. The company has a 50-day simple moving average of GBX 646.27 and a two-hundred day simple moving average of GBX 576.10.

Insider Buying and Selling

In other news, insider Rob Shuter bought 80,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was purchased at an average price of GBX 646 ($8.39) per share, for a total transaction of £516,800 ($670,994.55). Corporate insiders own 0.67% of the company’s stock.

Drax Group Company Profile

Drax Group plc, together with its subsidiaries, engages in renewable power generation in the United Kingdom. It operates through three segments: Pellet Production, Generation, and Customers. The Pellet Production segment produces and sells biomass pellets. The Generation segment provides renewable, dispatchable power, and system support services to the electricity grid.